Taxes are one of the ways through which the Government generates revenue to fulfill its responsibilities to the public, such as the provision of basic amenities and services. Taxes may be referred to as compulsory payments to the Government through any of its agencies. Taxes are payable on tangible assets such as cars and houses, […]
The Chairman of the Lagos State Branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr Adedotun Bamigbola has reacted to the review of the Land Use Charge (LUC) in the state, which was announced by Governor Babajide Sanwo-Olu on Wednesday. He said the review was a welcome development and very much anticipated. […]
After examining the impact of the new stamp duty tax in the real estate sector, the Nigerian Institution of Estate Surveyors and Valuers (NIESV) has appealed to the Federal government to reverse the charges. The President of the institution, Sir Emmanuel Wike, who spoke during a press conference in Lagos, said the timing for such […]
Access to finance, land, materials and resources, as well as access to tilting, governor’s consent and approvals, have been blamed for the slow development of housing in Nigeria. According to the Real Estate Developers of Nigeria (REDAN), the above limiting factors have made it impossible to have potent demands for housing in the country, as […]
Following the enactment of the Lagos State Urban and Regional Planning and Development (Amendment) Law, 2019, the Commissioner for Physical Planning and Urban Development, Dr Idris Salako has asked the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos branch to collaborate with insurance companies for proper valuation of properties which fall under the purview […]
The Lagos branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) has floated a Resource Centre at its head office in Alausa, Ikeja for real estate and other professional capacity development. The centre is equipped with state-of-the-art facilities for training of all kinds of professionals and has a COVID-19 sitting capacity of between […]
Yesterday the 24th July, 2020, the Chairman of ‘The Very Branch’ ESV Adedotun Bamigbola FNIVS, led the branch on a strategic engagement visit to the office of the Commissioner for Physical Planning and Urban Development, Lagos state. The meeting had in attendance other Exco Members and some senior members of the Branch including ESV Linda […]
The Federal Government of Nigeria has announced it will begin collection of six percent charges from property managers on tenancy and lease agreement. The Federal Inland Revenue Service (FIRS) on Wednesday asked landlords and property agents to charge six percent Stamp Duty on all tenancy and lease agreements they enter into with all leases and […]
Recently, the Lagos State Government sealed over 100 houses in the upscale areas of Banana lsland, Parkview, Bourdillon, Old Ikoyi and Lekki. There were many reasons for the closure of the properties, including contraventions, such as fake approval papers, bastardisation of the operative development plans, falsehood in the design drawings to shortchange the state on […]
The Chairman, Nigerian Institution of Estate Surveyors and Valuers, Adedotun Bamigbola, has said there is need for stakeholders in the real estate sector to work with the government on preventive measures that challenges from heavy rainfall can cause to the real estate sector. He spoke during a webinar on, “2020 rainfall forecast: Impact on real […]
